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Online & Mobile Banking

Instabank makes use of Provenir to aggregate credit data

Wednesday 13 September 2017 | 07:42 AM CET

Instabank, a challenger bank, has started to use technology provided by Provenir to aggregate credit applicant data from structured and unstructured data sources.

These include credit bureaux and its core banking system, to provide customers with an instantaneous credit decision.

The approach is built to simplify banking. With Provenir Platform, a customer is able to apply for a loan while she’s on her lunch break and receive an approval immediately.

Instabank relies on the vertical and horizontal scalability that the Provenir Platform provides to geographical expansion across Europe. The nature of its business requires an analytics and decisioning engine to manage and configure business logic or credit policy.

Instabank ASA is a Norwegian digital bank, launched in September 2016, with headquarters in Oslo. It develops new products and services that will simplify the way consumers use banking services. The bank is primarily owned by Norwegian investors, and there is no single shareholder owning more than 10% of the company.

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